Jim Kelly

[The Senator]

JK speaks from his heart. I have no doubt he is doing all he can to keep the Bills in WNY.

 

But JK has no coaching experience, much less GM or CEO experience. And as far as I know, not even any business experience at any level, much less at the 800-900 million dollar enterprise level. If you were in a position to financially back someone to the tune of almost a billion dollars of your money, would you back someone with Jim Kellys experience? He certainly has a name that would make Bills fans very happy, but at the end of the day I'm pretty sure that I would not. It is simply too much money to make that kind of a gamble, at least for me.

 

 

So you think he is getting paid to be some kind of owner apprentice?

Kind of out there a little isn't it?

Interesting choice of words there, CM - if you remember, Jim Kelly ended his USFL career with the New Jersey Generals & "The Donald". Could Jim be the ultimate apprentice here, and Trump a potential buyer? Jimbo may not have any bonafide business experience, but you can't question Trump's business accumen, and he was a team owner some years ago in a rival league he helped form - albeit a failed league.

 

Back when Kelly first started talking about this, I always suspected that Jack Kemp was involved in some capacity - and, when Kemp got involved with former NY governor Mario Cuomo, Henry Aaron, and Tony Tavares (Washington Nationals owner) to form a special-purpose acquisition company (SPAC), I was virtually certain they were putting something together to buy the Bills based on certain things they were saying that 'resonated' with Jim Kelly's statements...

 

"The more I looked at it, the more I realized that the potential for sports properties and entertainment in a global economy is huge," said Kemp, who runs Kemp Partners, a Washington-based investing firm, and is chairman of Sports Properties. "SPACs are hot."

 

Murstein reached out last summer to Kemp -- a former professional football quarterback, Republican congressman and vice presidential nominee -- bringing him on as chairman of Sports Properties. "I knew he would be a great door opener and someone who understood not only sports, but public financing of sports facilities," said Murstein.

 

Sports Properties then tapped Tavares as chief executive, hoping to draw on his experience running other sports franchises, including the Nationals, the California Angels and the NHL's Mighty Ducks. A partner at Kemp's firm, James R. Taylor, is an adviser to the SPAC; Aaron and Cuomo are directors.

 

For now, Sports Properties is a shell in search of a real company. Last month, its managers went on a nationwide tour to find investors, raising $215 million. The units began trading on the American Stock Exchange two weeks ago, and closed at $9.84 on Friday, 1.6 percent below the IPO price of $10 per unit.

 

Now that it has investors, the firm is on the hunt for an acquisition, maybe something involving a professional sports team or a new stadium. Kemp said he is interested in exploring the construction of an arena in Las Vegas for a future National Basketball Association franchise.

 

"We are looking to buy something for a lot more than the $215 million," Murstein said. "We can raise more equity, apply leverage, or have the seller take back stock. We could buy something for over $1 billion for example."

 

(link - 2008 Washington Post article)

 

 

Something for 'over $1 billion'???? Hmmm.....

 

 

Of course, then Jack Kemp succumbed to cancer and died on us. (RIP, Jack - Bills fans still remember and love you.)

 

 

Now, The Donald - he could probably just write a check.

Edited October 17, 2010 by The Senator

[LasBillzz]

Here's another article in which Jim Kelly touches upon the future of the franchise. At first glance, it seemed to me more of what we already know at this point... that he is looking to put together a group of investors to purchase the team upon Ralph's demise.

 

But, reading the paragraph closely, one can infer that things have progressed a lot further than we have thought. The first example is when Kelly states "if that day comes when he decides, "It's time for me to relinquish the ownership..." "then I do have people in line that will want to purchase the team and keep it in western New York."

Two interesting things about this statement. First, the beginning of the sentence seems to indicate that Ralph would consider moving the franchise before he passes, a concept that has, to this point, been rejected by Ralph. Second, while Jim has been making noise for awhile about a group of potential investors, I never remember him being so declarative as he is when he states "I do have people in line that will want to purchase the team and keep it in Western New York." That suggests he has all his ducks in a row, and has everything set up in his corner for a purchase. No longer is the situation theoretical...he now has his people ready to make a move. Of course, that gives rise to speculation as to who those people are?

Other then the usual suspects, (Rich, Golisano, etc I have no idea who those people could be.) Although, I do think it's interesting that Paladino has been so chummy with Thurman of late. Paladino doesn't have the necessary funds to be a majority owner, but he could certainly chip in as a minority owner. At any rate, unless Jim is completely making things up, which seems unlikely, it appears he has assembled a legitimate group of buyers committed to keeping the team local.

What really grabbed my attention though, is the next sentence. "Because I do not entertain any offers from anybody looking to move the Buffalo Bills from western New York." Whoa... that makes it sound as if Jim is in the position to take offers from potential buyers. Only Ralphie would be in that position... unless a future sale was all but a done deal. Now Jim could have been talking about people making offers to join his ownership group... but he did not say that. Further, it seems unlikely there would be any offers to Jim from foreign investors looking to relocate, since everyone knows he is 100% committed to keeping the team here.

It could have just been clumsy wording on his part, or clumsy writing. But, this article, supplemented by John Wawrow's cryptic comments on WGR about him betting"70-30" the Bills would be here long term after his conversation with Ralph, definitely have me believing that Jim has something in the works and picking up steam.

 

What makes me sick and tired of all this conjecture (however well meaning) is the fact that Ralph Wilson at age 91 is still hanging on to the team. If indeed Jimbo has his ducks in a row, why not make an announcement before a sudden decline in health? Ralph has had the team for 50 years, bought it for something like $50,000, and made mega millions even before figuring in the final asking price. All for a team that has been mediocre or less for the huge majority of its existence, largely due to his shortcomings. Wilson won the stinking lottery when he became an AFL owner, and his team has been loyally supported by the best fans in the country, for better or worse, mostly worse.

 

My point is if the guy realized how lucky he is, how badly the franchise needs revitalization, and the idea that it's time to get off the horse, the city of Buffalo would not be twisting in the wind as it is now. How long does Ralph need the ego boost of knowing he is an NFL owner? Clearly his family doesn't care, as they don't want to inherit the Bills.

 

All of this brings me to two possibilities, both of which make me sick to my stomach: Jimbo has the investors in line (as he has been hinting at for years) and Ralph is hanging on out of sheer ego 'til death, or there is no plan in place and the Bills could go anywhere.

 

If the first scenario is feasible, I just wish an ounce of humility would enter this Ralph's psyche and he would let us all move on as he counts his cash. As to the second, it would be a sadly fitting end to a largely dysfunctional ownership.

[LasBillzz]

My issue with all the conjecture around what happens after Mr. Wilson passes is that it is all conjecture still.

 

Why keep plans a secret if they do exist? Why keep everyone guessing?

 

Ockham's razor comes to mind. When competing hypotheses are equal in other respects, the principle recommends selection of the hypothesis that introduces the fewest assumptions and postulates the fewest entities while still sufficiently answering the question. So which makes the most sense to you:

 

1) There is a plan in place for Mr. Kelly and associates, or some other group, to buy the Bills and keep them in WNY. But not publicly acknowledge such a plan in the least which keeps the fan base, coaches, players, as well as any potential coach and player hires questioning the future of the team and tend to avoid making a commitment to a team whose future is uncertain.

 

or

 

2) There is a plan in place that will cause the eventual relocation of the team. But not publicly acknowledge such a plan in an effort to keep the fans coming to the games instead of disowning the Bills immediately which also allows the Bills to stay in Buffalo the entire time Mr. Wilson is alive.

 

or

 

3) There is no plan at all and the future of a 900 million dollar business entity if left to see where the chips fall after Mr. Wilsons passing.

 

Obviously 3 gets discounted immediately as Mr. Wilson is not a moron. So out of 1 and 2, which makes the most sense to you?

 

I do not know Mr. Wilson or Mr. Kelly or any of their business people. So I am just theorizing like everyone else. But until someone who is credible comes forward (preferably the most credible which would be Mr. Wilson himself) and states otherwise, my guess is number 2 above.

 

Common sense razor here: 3) is a distinct possibility as Ralph didn't get to be rich by not caring about money. Assuming Wilson cares about his family too, 3) nets the largest windfall for his descendants, and lets him stay owner until death, after which we can assume he will no longer care. Either way, the "chips" fall into his family's pockets.